The signed purchase agreement for the world-leading engine is a major step toward producing a hybrid eVTOL that will go faster, farther, and be the most efficient in the industry

TORONTO, ONTARIO / ACCESS Newswire / October 14, 2025 / New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft ("Horizon Aircraft" or the "Company"), an advanced aerospace engineering company and developer of one the world's first hybrid eVTOL (electric Vertical Take-Off and Landing) aircraft, announces its purchase of the world-leading PT6A engine from Pratt & Whitney Canada ("Pratt & Whitney"), a leader in propulsion systems, powering the most advanced aircraft in the world.

The PT6 turboprop engine family is the most popular engine in its class, considered to be one of the most reliable and efficient aircraft engines ever produced. With a proven performance record in a wide range of aircraft and high-power applications, the PT6A engine is the optimal choice for Horizon Aircraft's full-scale hybrid eVTOL, the Cavorite X7, which will fly most of its mission like a conventional airplane. The PT6A's architecture and modular reverse flow design also simplifies installation and ongoing engine maintenance.

Unlike many eVTOLs that solely use electric-powered engines, the Cavorite X7's hybrid gas/electric design will tackle real-world military, emergency, and commercial operations without dependency on battery charging infrastructure that is absent or unreliable in remote, off-grid locations. Installing the PT6A engine in the Cavorite X7 will provide unprecedented speed, range, efficiency, and dependability that other eVTOLs and helicopters cannot match, while reducing hydrocarbon emissions by up to 30% relative to conventional aircraft conducting similar operations.

"Choosing the right engine for our full-scale hybrid aircraft was essential," commented Horizon Aircraft CEO, Brandon Robinson. "The PT6A is exactly what we need for our full-scale aircraft, and building a relationship with Pratt & Whitney Canada, such a respected, global leader right here at home, is another amazing win."

"For more than six decades, the PT6 engine has been at the heart of countless innovations in aviation, continually evolving to meet the needs of customers worldwide," said Scott McElvaine, Vice President, Sales & Marketing and Business Development at Pratt & Whitney Canada. "Seeing the PT6A selected for Horizon Aircraft's Cavorite X7 reflects its position as the most modern and versatile engine in its class today, delivering the performance, efficiency, and reliability required for this next generation of aircraft."

The relationship building between the two Canadian entities not only strengthens Horizon Aircraft's position as it develops its full-scale hybrid eVTOL, but it also underscores Canada's growing presence and influence in the global advanced air mobility industry.

For more information about Horizon Aircraft, please see the Company's website or watch its innovative technology in action on the Company's YouTube channel.

About Horizon Aircraft

Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace engineering company that is developing one of the world's first hybrid eVTOL designed to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon Aircraft's unique designs put the mission first and prioritize safety, performance, and utility. Horizon Aircraft intends to successfully complete testing and certification of its Cavorite X7 eVTOL and then scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.

For further information, visit:

Website www.horizonaircraft.com

LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc

On behalf of New Horizon Aircraft Ltd.

Brandon Robinson
Co-Founder and CEO

For further information, contact:

Investors:

Matt Chesler, CFA
FNK IR LLC
(646) 809-2183
HOVR@fnkir.com

Media:

Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
edwina@efgmediarelations.com

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "target," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL prototype for initial testing, development priorities and technical milestones; funding and liquidity sufficiency and runway; certification and testing plans; and potential production, partnership, supply chain and market opportunities.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon Aircraft will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Horizon Aircraft's industry and market size; (v) financial condition and performance of Horizon Aircraft, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft; (vi) Horizon Aircraft's ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon Aircraft's Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft's Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company's public filings with the Securities and Exchange Commission ("SEC") and under the Company's profile on sedarplus.ca, including the disclosures under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2025, filed with the SEC and filed under the Company's profile on sedarplus.ca on August 22, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

Readers are cautioned not to put undue reliance on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable law. Horizon Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.

SOURCE: Horizon Aircraft